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Extensive research

Talenom: International recipe tested in the next few years

By Juha KinnunenAnalyst
Talenom
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Talenom’s earnings growth story will get back on track in the next few years as the company moves from aggressive growth to reviving profitability. The company is facing critical years for internationalization, as Sweden seeks efficiency from its own accounting system and Spain is being ramped up. After a strong price rise, the stock is no longer in the bargain bin, but if Finland’s success story can be transferred abroad, the stock is still cheap. The track record is still weak outside Finland, but the ingredients for a recipe for success are present.

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Talenom is an accounting firm that offers a wide range of services within accounting, invoice management and payroll. In addition to the main business, financial analysis and the possibility of real-time control via the company's web services are offered. The largest proportion of customers are found among small and medium-sized corporate customers in the Nordic market. The company was founded in 1972 and has its headquarters in Oulu.

Read more on company page

Key Estimate Figures27.12.2023

202223e24e
Revenue102.1121.4136.8
growth-%23.3 %18.9 %12.6 %
EBIT (adj.)15.311.415.8
EBIT-% (adj.)15.0 %9.4 %11.6 %
EPS (adj.)0.270.140.20
Dividend0.180.180.19
Dividend %2.0 %7.0 %7.4 %
P/E (adj.)34.318.313.0
EV/EBITDA14.25.85.0

Forum discussions

I can’t confirm 100%, but in terms of LinkedIn activity, this Antti A from Swappie has liked a few Talenom / Easor posts in recent weeks. There...
yesterday
by Poimija
4
Here is a link for everyone to that Tilisanomat study that @Tilihenkilö is discussing: Tilisanomat – 29 Jan 26 Taloushallinto-ohjelmistojen ...
yesterday
6
From Finago’s website. The market is consolidating – Procountor is still number one
yesterday
by Tilihenkilö
4
Weren’t there percentages for these? I would imagine that Easor belongs in the category where software for accounting firms is listed? What ...
yesterday
by Gwertheney
0
I agree, I have experience with this. Accounting firms definitely don’t switch software easily, precisely because onboarding has to be done ...
yesterday
by Tilihenkilö
0
Yes, but one could imagine competitors eyeing the same markets as well. Visma is still quite a few times larger than Easor. In Finland, we are...
yesterday
by Lemmenlaulu
1
Accounting exists outside of our home country, too. I’m a bit skeptical of the firm stances taken on this forum regarding the superiority of...
yesterday
by Molskis06
0
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